Mirae Asset Global Investments Co. Ltd. Buys New Stake in Kraft Heinz Company $KHC

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Kraft Heinz Company (NASDAQ:KHC – Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 240,438 shares of the company’s stock, valued at approximately $5,463,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Waverly Advisors LLC grew its stake in shares of Kraft Heinz by 3.9% in the second quarter. Waverly Advisors LLC now owns 11,438 shares of the company’s stock worth $270,000 after purchasing an additional 433 shares in the last quarter. 55 North Private Wealth LLC raised its stake in shares of Kraft Heinz by 4.2% during the third quarter. 55 North Private Wealth LLC now owns 11,225 shares of the company’s stock valued at $255,000 after purchasing an additional 453 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Kraft Heinz by 19.6% during the second quarter. Parkside Financial Bank & Trust now owns 3,097 shares of the company’s stock valued at $73,000 after purchasing an additional 508 shares in the last quarter. Triumph Capital Management lifted its holdings in Kraft Heinz by 14.4% in the second quarter. Triumph Capital Management now owns 4,042 shares of the company’s stock worth $95,000 after purchasing an additional 509 shares during the period. Finally, Van Hulzen Asset Management LLC lifted its holdings in Kraft Heinz by 5.6% in the second quarter. Van Hulzen Asset Management LLC now owns 10,029 shares of the company’s stock worth $237,000 after purchasing an additional 529 shares during the period. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz News Summary

Here are the key news stories impacting Kraft Heinz this week:

Kraft Heinz Trading Down 0.3%

Shares of NASDAQ KHC opened at $25.36 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.06 and a debt-to-equity ratio of 0.49. Kraft Heinz Company has a 12 month low of $21.03 and a 12 month high of $28.09. The company has a market cap of $30.07 billion, a price-to-earnings ratio of -8.87, a P/E/G ratio of 2.99 and a beta of 0.12. The business has a fifty day simple moving average of $24.02 and a 200-day simple moving average of $23.91.

Kraft Heinz (NASDAQ:KHC – Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.11. The firm had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $6.09 billion. Kraft Heinz had a positive return on equity of 7.10% and a negative net margin of 13.64%. Kraft Heinz’s revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the business posted $0.61 EPS. Sell-side analysts predict that Kraft Heinz Company will post 2.06 EPS for the current year.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 23rd. Shareholders of record on Friday, December 4th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 6.3%. The ex-dividend date is Friday, December 4th. Kraft Heinz’s dividend payout ratio (DPR) is presently -55.94%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on KHC shares. Barclays lowered their target price on shares of Kraft Heinz from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, October 16th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $24.00 price target on shares of Kraft Heinz in a research note on Wednesday. Weiss Ratings cut shares of Kraft Heinz from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, August 6th. Royal Bank Of Canada reiterated an “outperform” rating and set a $32.00 price objective on shares of Kraft Heinz in a research note on Thursday, September 24th. Finally, TD Cowen reissued a “hold” rating and set a $22.00 target price on shares of Kraft Heinz in a report on Tuesday, September 22nd. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Kraft Heinz has a consensus rating of “Reduce” and an average price target of $23.80.

View Our Latest Stock Analysis on KHC

Kraft Heinz Company Profile

(Free Report)

The Kraft Heinz Company (NASDAQ: KHC) is a global food and beverage company that develops, manufactures and markets branded products for consumers, retailers and foodservice customers. Its portfolio includes condiments and sauces, cheese and dairy products, meals, meats, snacks, beverages and desserts.

The company’s brands include Kraft, Heinz, Oscar Mayer, Philadelphia, Velveeta, Jell-O, Maxwell House, Lunchables, Capri Sun, Planters and Classico, among others. Products are sold through grocery stores, mass merchants, club stores, convenience retailers, e-commerce channels and foodservice distributors.

Kraft Heinz was created in 2015 through the merger of Kraft Foods Group and H.J.

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Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

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